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Peak electricity demand may increase by as much as 140 million kilowatts (12%) compared with winter 2022/23, the National Energy Administration (NEA) forecast on Oct. 31. Planners have been anxious to avoid a repeat of the fuel and power shortages that occurred in the autumn and winter of 2021/22. Chartbook: China electricity generationIn the first ten months of 2023, domestic coal production increased by 144 million tonnes (11%) and imports by 154 million tonnes (67%) compared with the prior year. The NEA said power generators’ inventories should be maintained at 200 million tonnes, up from 170 million tonnes a year ago. In the same period, domestic gas production increased by 8 million tonnes (6%), while liquefied natural gas (LNG) imports rose by 6 million tonnes (12%) and pipeline imports increased by 2 million tonnes (5%).

Persons: Tingshu Wang, John Kemp, Jan Harvey Organizations: REUTERS, National Energy Administration, Planners, NEA, Thomson, Reuters Locations: Yanqing district, Beijing, China, Yunnan, Inner Mongolia, Chartbook, Guangdong, Hainan

☆ Thai economy in 'crisis' and needs major stimulus - PM
▼ + stars: | 2023-11-23 | by ( ) www.reuters.com time to read: +2 min

Speaking at a forum, Srettha said the economy was not in good shape with fewer foreign arrivals than targeted, and he would be prioritising attracting foreign investment and addressing household debt. "There needs to be big economic stimulus," said Srettha, who is also finance minister, adding a plan to tackle debt would be announced on Dec. 12. Thailand recorded 23.85 million foreign tourists arriving from Jan 1 to Nov. 19, spending 1 trillion baht. It is targeting 28 million arrivals versus a pre-pandemic record of nearly 40 million foreign tourist arrivals in 2019 who spent 1.91 trillion baht. In recent weeks, government officials have described the economy to be in a crisis, necessitating its signature plan.

Persons: Srettha Thavisin, Srettha, Sethaput Suthiwartnarueput, Orathai Sriring, Kitiphong, Satawasin, Chayut Setboonsarng, Martin Petty Organizations: Thai, Thais, Bank of Thailand, Thomson Locations: BANGKOK, Thailand, Southeast Asia's

OPEC and the IEA expect China's oil demand to show growth in 2023 of 7.6% and 12.1%, respectively. OPEC has dismissed fears of that demand growth for oil in China is fading, describing negative sentiment as "overblown" in a recent report. OPEC's forecasts show China accounting for 24.6% of global oil demand growth in the first half of 2024, according to Reuters calculations. Consultancies Wood Mackenzie, Rystad Energy and Energy Aspects respectively forecast China's first-half 2024 oil demand to grow by 3.7%, 4.0% and 4.4% versus the same period in 2023. Energy Aspects expects first-half diesel demand to be flat from a year earlier.

Persons: Aly, Consultancies Wood Mackenzie, Rystad, Lin Ye, Xia, Andrew Hayley, Simon Cameron, Moore Organizations: REUTERS, Rights, of Petroleum, International Energy Agency, OPEC, Rystad Energy, JET, Reuters Graphics Reuters, National Bureau of Statistics, Thomson Locations: Zhuhai, China, Rights BEIJING, OPEC, Russia, Beijing

☆ Chasing a Different China Dream, Young Digital Nomads Head for the Hills
▼ + stars: | 2023-11-23 | by ( Nov. | At P.M. | ) www.usnews.com time to read: +6 min

Many are former city-dwellers in search of an elusive prize in authoritarian China: Space for open discussion and exchange of ideas. POLICE OVERSIGHTThe local government has sought to attract young tech talent and in September asked digital nomads for input on policies, two community organisers told Reuters. Many digital nomads who use co-working spaces are involved with technologies like blockchain, according to organisers, which they say has drawn scrutiny from local authorities. "We are more low-key and don't emphasise digital nomads in our marketing anymore," one co-working space staffer told Reuters, adding that conservative local governments in rural towns like Dali are "cautious of emerging technologies". Since digital nomads, unlike university students, "are not subject to structured discipline, they are harder to manage", she said.

Persons: Laurie Chen DALI, Trump, Xi Jinping, Minhua Ling, Dali, Xi's, Bai Yunxi, Xi, Bai, Chen Zhengyun, Chen, Ling, Laurie Chen, Katerina Ang Organizations: Geneva Graduate Institute, Reuters, Communist Party Locations: China, China's, Israel, Gaza, Dali, Yunnan, Beijing

☆ Oil edges lower in choppy trade as OPEC+ delays meeting
▼ + stars: | 2023-11-22 | by ( Nicole Jao | ) www.reuters.com time to read: +3 min

The sun is seen behind a crude oil pump jack in the Permian Basin in Loving County, Texas, U.S., November 22, 2019. The delay stoked concerns that more production could come online from oil producers in the coming months, said Dennis Kissler, senior vice president of trading at BOK Financial. A rise in inventories also pressured prices lower on Wednesday morning, he said. U.S. crude oil inventories rose by 8.7 million barrels last week on higher imports, the Energy Information Administration (EIA) said. To support prices, OPEC and its allies will need to not only extend, but increase cuts, said John Evans of oil broker PVM in a note.

Persons: Angus Mordant, Dennis Kissler, John Evans, Nicole Jao, Paul Carsten, Ahmad Ghaddar, Laura Sanicola, Colleen Howe, Jason Neely, Marguerita Choy, David Gregorio, Deepa Babington Organizations: REUTERS, . West Texas, U.S, Organization of, Petroleum, BOK, Energy Information Administration, U.S ., greenback, Reuters, International Energy, Thomson Locations: Loving County , Texas, U.S, Brent, OPEC, Saudi Arabia, Russia

☆ Morning Bid: Markets in a holiday mood
▼ + stars: | 2023-11-22 | by ( Lewis Krauskopf | ) www.reuters.com time to read: +3 min

REUTERS/Brendan McDermid Acquire Licensing RightsNov 23 (Reuters) - A look at the day ahead in Asian markets from Lewis Krauskopf, markets correspondent. Markets were buoyant ahead of Asia trading and the Thanksgiving holiday in the U.S., with stocks resuming their massive rally this month that has been fueled by hopes of a more benign interest rate backdrop. Japanese markets were also set to be closed for a national holiday on Thursday. While speculation that the Bank of Japan could exit from negative interest rates early next year stands to help stabilize the yen, the Japanese currency still faces strong headwinds. Trading volumes were set to be subdued for the rest of the week with markets in the U.S. closed on Thursday.

Persons: Brendan McDermid, Lewis Krauskopf, Josie Kao Organizations: New York Stock Exchange, REUTERS, Nasdaq, Federal, Nvidia, Amazon, Microsoft, Nikkei, Reuters, Bank of Japan, Singapore CPI, Indonesia Central Bank, Thomson Locations: Santa Claus, New York City, U.S, Lewis, Asia, China, Beijing, Singapore

Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., November 15, 2023. However, minutes from the latest Fed meeting on Tuesday showing policymakers' cautious approach towards monetary policy weighed on optimism around the prospects of a rate cut early next year. The three headwinds were higher energy prices, higher Treasury yields and a stronger dollar and for the last three weeks, all of those headwinds now become tailwinds," said Hogan. Advancing issues outnumbered decliners by a 2.31-to-1 ratio on the NYSE and by a 2.24-to-1 ratio on the Nasdaq. The S&P index recorded 34 new 52-week highs and one new low, while the Nasdaq recorded 54 new highs and 40 new lows.

Persons: Brendan McDermid, Art Hogan, Hogan, Sam Altman, Caterpillar, Amruta Khandekar, Maju Samuel Organizations: New York Stock Exchange, REUTERS, Deere, Co, Dow, Nasdaq, Federal Reserve, Data, Riley, Traders, Nvidia, Wall, U.S, Investors, OpenAI, Microsoft, Dow Jones, Deere & Co, NYSE, Thomson Locations: New York City, U.S, China

☆ Be warned: Flights are getting bumpier
▼ + stars: | 2023-11-22 | by ( Michelle Mastro | ) www.businessinsider.com time to read: +9 min

Air turbulence is becoming more common and more intense. As the jet stream buckles a bit because it's not as strong as it was in the past, now you have all this energy associated with the jet stream up 30,000 feet or so. But changes to the atmosphere mean these corridors are getting bumpier, so avoiding them could result in smoother flights. But while we can get better at avoiding air turbulence, we won't be able to avoid it altogether. That's why some companies are going back to the drawing board to design airplanes that can better adjust to turbulent air.

Persons: I'd, Isabel Smith, Smith, Paul Williams, Williams, Bill Duncan, You've, John K, didn't, Duncan, Pierre Baqué, Alyson Smith, Michelle Mastro Organizations: University of Reading, Lufthansa, Northern, The Weather Company, Denver, Airbus, National Transportation Safety Locations: Denver, Indianapolis, England, Austin , Texas, Frankfurt, Germany, Washington, Rocky, Swiss, Delta

WASHINGTON (AP) — The number of Americans applying for unemployment benefits fell sharply last week, a sign that U.S. job market remains resilient despite higher interest rates. The Labor Department reported Wednesday that jobless claims dropped by 24,000 to 209,000. The four-week moving average of claims, which smooths out week-to-week volatility, fell by 750 to 220,000. Overall, 1.84 million Americans were receiving unemployment benefits the week that ended Nov. 11, down by 22,000 from the week before. The job market and economic growth remained surprisingly resilient, defying predictions that the economy would slip into a recession this year.

Persons: —, it's, ″, Rubeela Farooqi Organizations: WASHINGTON, Labor Department, Federal, Employers Locations: United States

The sun is seen behind a crude oil pump jack in the Permian Basin in Loving County, Texas, U.S., November 22, 2019. REUTERS/Angus Mordant/File Photo Acquire Licensing RightsSummaryCompanies OPEC+ meeting delayed to Nov. 30Brent falls below $80Eyes on whether OPEC+ cuts will be rolled over or deepenedLONDON, Nov 22 (Reuters) - Oil prices tanked 4% on Wednesday as OPEC+ producers unexpectedly delayed a meeting on output planned for Sunday, raising questions about the future course of crude production cuts. OPEC+ delayed its ministerial meeting to Nov. 30 from Nov. 26 as previously scheduled, OPEC said in a statement, a surprise development that gave no reason for the postponement. Earlier on Wednesday, Bloomberg News reported that the OPEC+ meeting could be delayed for an unspecified period of time after Saudi Arabia expressed its dissatisfaction with other members about their output numbers. Analysts had predicted before the delay that OPEC+ was likely to extend or even deepen oil supply cuts into next year.

Persons: Angus Mordant, Brent, Rong Yeap, John Evans, Paul Carsten, Ahmad Ghaddar, Laura Sanicola, Colleen Howe, Jason Neely Organizations: REUTERS, Brent, . West Texas, OPEC, Wednesday, Bloomberg News, Reuters, Organization of, Petroleum, IG, International Energy, Thomson Locations: Loving County , Texas, U.S, Saudi Arabia, Russia, OPEC, London

☆ OpenAI staff are putting their visas at risk to get Sam Altman back as CEO
▼ + stars: | 2023-11-21 | by ( Tom Carter | ) www.businessinsider.com time to read: +3 min

700 OpenAI employees have signed a letter threatening to quit if Sam Altman isn't reinstated as CEO. Some of them say they are on work-dependent visas, which they could lose if they are forced to quit. It's a sign of how much loyalty Altman has inspired among staff. AdvertisementOpenAI's employees are calling on the company's board to bring back Sam Altman — and some are even willing to put their visas at risk to get him back as CEO. A number of senior OpenAI employees are already expected to follow Altman and ex-OpenAI president Greg Brockman to Microsoft.

Persons: Sam Altman isn't, It's, Altman, —, Sam Altman —, Sam Altman, Mira Murati, Ilya Sutskever —, Reiichiro Nakano, Boris Power, Emmett Shear, Greg Brockman, Satya Nadella, Kara Swisher, OpenAI Organizations: Service, Microsoft, Business

☆ A Psychologist’s Tips for Having Tense Thanksgiving Conversations - The New York Times
▼ + stars: | 2023-11-21 | by ( Sunita Sah | ) www.nytimes.com time to read: +1 min

The hum of conversation, the aroma of roasted turkey, the clinking of silverware on porcelain: This is how I remember last year’s Thanksgiving, spent at a dear friend’s home. I relished the inviting ambience until a conversation about the day’s cooking unexpectedly shifted to the topic of gender roles. As a guest caught in this sudden shift, I faced a dilemma: Should I challenge his statement or opt for harmony over discord? For many of us, especially in our current political climate, speaking up in such settings feels risky. Far from preserving peace, holding back our thoughts can leave us more unsettled and unhappy.

Persons: wistfully

☆ Analysis-Scholz's Coalition Buckles but Unlikely to Break - for Now
▼ + stars: | 2023-11-21 | by ( Nov. | At A.M. | ) www.usnews.com time to read: +6 min

The decision has increased tensions within Chancellor Olaf Scholz's coalition, in particular between junior partners the Greens and the Free Democrats (FDP). But Scholz is unlikely to call for new elections as they would not benefit any of the coalition partners. "Scholz definitely wants to keep the government together and believes this will work as none of the three coalition partners stand to benefit from a break," a source close to the chancellor said. "In reality, the chancellor should dismiss his coalition partners now." "And the strength of the AfD is also the reason why no actors - not even the conservatives - currently have any interest in new elections."

Persons: Sarah Marsh, Holger Hansen, Andreas Rinke BERLIN, Chancellor Olaf Scholz's, Philipp Tuermer, Scholz, Stefan Marschall, Ursula Muench, Frank Decker, Friedrich Merz, Markus Soeder, Decker, Andreas Rinke, Alexander Ratz, Catherine Evans Organizations: Greens, Free Democrats, Scholz's Social Democrats, Tagesspiegel, Bertelsmann Foundation, SPD, University of Duesseldorf, University of Tutzing, Bonn University, Eurasia Group Locations: Ukraine, Germany, Bavarian

☆ Dollar falls to 2-1/2 month low on Fed expectations, yen strengthens
▼ + stars: | 2023-11-20 | by ( Chuck Mikolajczak | ) www.reuters.com time to read: +3 min

U.S. Dollar and Euro banknotes are seen in this illustration taken July 17, 2022. Markets have priced out any additional Fed rate hikes, as recent data has shown a slowing of the economy and inflation pressures - but not enough to increase fears a sharp recession is looming. "The market is convinced, both credit, equities and currencies that the Fed has finished raising rates, but the Fed is not willing to say so. "So you're getting a gradual weakening in the dollar, simply because the Fed is doing its best to prop up rates, not necessarily the dollar, but to prop up rates." Against the yen the dollar was last traded at 148.36 yen , down 0.84%.

Persons: Dado Ruvic, CME's, we've, Joseph Trevisani, Thomas Barkin, Moody's, Sterling, Chuck Mikolajczak, Jonathan Oatis Organizations: REUTERS, U.S . Federal Reserve, Conference, Fed, Richmond Federal, Central Bank, Thomson Locations: U.S

☆ Dollar falls to two-month low on Fed view, yen strengthens
▼ + stars: | 2023-11-20 | by ( Chuck Mikolajczak | ) www.reuters.com time to read: +3 min

U.S. Dollar and Euro banknotes are seen in this illustration taken July 17, 2022. Markets have priced out any additional Fed rate hikes, as recent data has showed a slowing of the economy and inflation pressures - but not enough to increase fears a sharp recession is looming. "The market is convinced, both credit, equities and currencies that the Fed has finished raising rates, but the Fed is not willing to say so. "So you're getting a gradual weakening in the dollar, simply because the Fed is doing its best to prop up rates, not necessarily the dollar, but to prop up rates." Against the yen the dollar was traded at 148.40 yen , down 0.81%.

Persons: Dado Ruvic, CME's, we've, Joseph Trevisani, Thomas Barkin, Moody's, Sterling, Chuck Mikolajczak, Jonathan Oatis Organizations: REUTERS, U.S . Federal Reserve, Conference, Fed, Reserve Bank of Richmond, Central Bank, Thomson Locations: U.S

☆ EV Startup Fisker Has Lost Another Chief Accounting Officer
▼ + stars: | 2023-11-20 | by ( Sean Mclain | ) www.wsj.com time to read: 1 min

Fisker’s first vehicle, the Ocean SUV, went on sale earlier this year. Photo: Angel Garcia/Bloomberg NewsElectric-vehicle startup Fisker has lost its second chief accounting officer in less than a month, marking the latest setback for a company that only recently started selling its first model. Florus Beuting , who was named chief accounting officer in early November, has left the automaker, according to people familiar with the situation. His exit follows the departure of his predecessor, who left in late October to take a job with another company, leading Fisker to unexpectedly delay its earnings release.

Persons: Angel Garcia, Beuting Organizations: Bloomberg News Electric

☆ Cruise CEO resigns after all of the company's robotaxis were forced to stop operating
▼ + stars: | 2023-11-20 | by ( Associated Press | ) www.businessinsider.com time to read: +3 min

download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementKyle Vogt has resigned as CEO of Cruise, General Motors' autonomous vehicle unit, as questions build about the safety of self-driving cars. Since then, the autonomous vehicles have drawn complaints for making unexpected, traffic-clogging stops that critics say threaten to inconvenience other travelers and imperil public safety. Late last year, U.S. safety regulators said they were investigating reports that autonomous robotaxis run by Cruise can stop too quickly or unexpectedly quit moving, potentially stranding passengers. Problems at Cruise could slow the deployment of fully autonomous vehicles that carry passengers without human drivers on board.

Persons: Cruise, —, Kyle Vogt, Vogt, Mo Elshenawy, Craig Glidden, Twitch Organizations: Service, General Motors, California Department of Motor Vehicles, Cruise, GM, Massachusetts Institute of Technology, Amazon Locations: California, San Francisco, Cruise

Microsoft announced Monday that it has hired Sam Altman and another architect of ChatGPT maker OpenAI after they unexpectedly departed the company days earlier in a corporate shakeup that shocked the artificial intelligence world. Microsoft Chairman and CEO Satya Nadella tweeted that the U.S. tech giant is committed to its partnership with OpenAI, whose chatbot kicked off the generative AI craze by producing human-like text, images, video and music. Microsoft invested billions of dollars in the startup and helped provide the computing power to run its AI systems. “We’re extremely excited to share the news that Sam Altman and Greg Brockman, together with colleagues, will be joining Microsoft to lead a new advanced AI research team,” Nadella said. The Associated Press and OpenAI have a licensing and technology agreement allowing OpenAI access to part of the AP’s text archives.

Persons: Sam Altman, OpenAI, Satya Nadella, Nadella, Emmett Shear, OpenAI's, Greg Brockman, ” Nadella, Altman, Brockman, Mira Murati, It's, Shear, didn't, “, Valley’s, ” OpenAI Organizations: Microsoft, OpenAI, Associated Press Locations: U.S

☆ OpenAI Upheaval in Focus, Microsoft Stock Edges Higher: Stock Market News Today
▼ + stars: | 2023-11-20 | by ( ) www.wsj.com time to read: +1 min

Microsoft stock was gaining after the software giant said Sam Altman—OpenAI's fired chief executive—would lead its new advanced AI research team . Now more than 500 OpenAI employees have threatened to leave the company if the current board doesn't resign and reinstate Altman. The chip maker’s stock—which has been a big contributor to the S&P 500's gains this year—was also higher in recent trading. All three major stock indexes are coming off their third straight weekly advance, including a 2.2% gain for the S&P 500. Benchmarks in Asia mostly rose, with consumer and tech stocks helping push Hong Kong’s Hang Seng Index up 1.9%.

Persons: Sam Altman — OpenAI's, —, Altman, Javier Milei Organizations: Microsoft, Nvidia, Nasdaq, Bayer, Bristol Myers Squibb, U.S, Treasury, greenback, Global Locations: OpenAI, U.S, Europe, Asia

Money managers through Nov. 14 expanded their net long in CBOT soybean meal futures and options to 131,404 contracts from 111,987 a week earlier, also on new longs. January meal futures surged 21% during those five weeks and nearly 4% in the most recent week, reaching their highest ever levels for the date. The pre-2023 record open interest in meal futures and options was 594,016 contracts set in mid-2018 after drought significantly cut down top meal exporter Argentina’s soybean crop. March CBOT wheat futures rose fractionally during the week, and funds trimmed nearly 3,000 contracts from their huge net short, resulting in 89,271 futures and options contracts. wheat, funds have been very heavy sellers of spring wheat futures since late July.

Persons: Gustavo Bonato, Soyoil, Karen Braun, Diane Craft Organizations: REUTERS, Rights, Reuters, Thomson Locations: Campo Verde, Mato Grosso, Brazil, Rights NAPERVILLE , Illinois, United States, U.S, Kansas City, Minneapolis

Kyle Vogt has resigned as CEO of Cruise, General Motors’ autonomous vehicle unit, as questions build about the safety of self-driving cars. The California Department of Motor Vehicles revoked the license for Cruise. Since then, the autonomous vehicles have drawn complaints for making unexpected, traffic-clogging stops that critics say threaten to inconvenience other travelers and imperil public safety. Problems at Cruise could slow the deployment of fully autonomous vehicles that carry passengers without human drivers on board. It said Craig Glidden also will serve as president and continue as chief administrative officer for Cruise, an appointment announced earlier.

Persons: Kyle Vogt, Cruise, ” Cruise, Vogt, Mo Elshenawy, Craig Glidden, Twitch Organizations: Motors, California Department of Motor Vehicles, Cruise, ”, GM, Massachusetts Institute of Technology, Amazon Locations: San Francisco, Cruise

☆ Sam Altman Is Out at OpenAI After Board Skirmish
▼ + stars: | 2023-11-18 | by ( Deepa Seetharaman | Berber Jin | ) www.wsj.com time to read: 1 min

OpenAI unexpectedly pushed out co-founder Sam Altman as chief executive officer, saying he wasn’t being “consistently candid in his communications” following a series of clashes over the company’s direction with some members of the artificial-intelligence company‘s board. The startup said Friday its board concluded after a review that Altman’s actions, which it didn’t specify, were “hindering its ability to exercise its responsibilities.” The company’s statement, unusually candid for such a situation, said: “The board no longer has confidence in his ability to continue leading OpenAI.”

Persons: OpenAI, Sam Altman, ”

☆ Elon Musk’s SpaceX Starship rocket and spacecraft lost in second test flight
▼ + stars: | 2023-11-18 | by ( Leighton Rowell | Jackie Wattles | ) edition.cnn.com time to read: +10 min

The Super Heavy booster and Starship spacecraft successfully separated after liftoff, as the Starship lit up its engines and pushed away. SpaceX's Starship launches on its second test flight from the Starbase facility in Boca Chica, Texas, on Saturday morning. The method was used to separate the Starship spacecraft and Super Heavy rocket after liftoff. Then, the spacecraft’s flight termination system was triggered to prevent it from veering off course, bringing an early end to the test flight. After April’s explosive first test flight, SpaceX noted “success comes from what we learn, and we learned a tremendous amount.”

Persons: Eric Gay, ”, John Insprucker, Artemis, “ Congrats, Bill Nelson, —, @SpaceX, Jim Free, Elon Musk, Kate Tice Organizations: CNN, Super, Starship, SpaceX, SpaceX's, Federal Aviation Administration, Boca, FAA, NASA, SpaceX Quality Systems Engineering Locations: of Mexico, Boca Chica , Texas, Hawaii

☆ Morning Bid: Treasury yields dive as oil craters, economy softens
▼ + stars: | 2023-11-17 | by ( ) www.reuters.com time to read: +5 min

U.S. two-year Treasury yields skidded below 4.80% on Friday for the first time since September 1, with 10-year yields dropping under 4.40% to September lows too. Crude has now lost almost 25% in just six weeks - aided by the U.S. gradually lifting oil sanctions on Venezuela. The Labor Department said import prices fell a whopping 0.8% in October, the most in seven months amid a broad decline in the costs of goods - deepening the annual deflation of import prices to as much as 2.0%. Even though the dollar (.DXY), , is taking a hit from the plunge in U.S. Treasury yields, the drop in sovereign borrowing rates was mirrored across the world in Europe , even Japan . Mirroring the softening demand picture elsewhere, British retail sales volumes fell unexpectedly in October as stretched consumers stayed at home.

Persons: Lucas Jackson, Mike Dolan, plumb, Morgan, Susan Collins, Mary Daly, Austan Goolsbee, Michael Barr, Dave Ramsden, Nick Macfie Organizations: New York Stock Exchange, REUTERS, Walmart, Cisco, Alibaba, Philadelphia Federal Reserve, Labor Department, Treasury, Hong, Housing, Atlanta, Boston Federal, San Francisco Fed, Chicago Fed, Bank of England, United States, APEC, Graphics, Thomson, Reuters Locations: New York, U.S, Wall, Alibaba ., Venezuela, Europe, Japan, HK, Hong Kong, China, San Francisco

☆ UK retail sales slide again in October in new blow for economy
▼ + stars: | 2023-11-17 | by ( Andy Bruce | ) www.reuters.com time to read: +2 min

REUTERS/Phil Noble/File Photo Acquire Licensing RightsLONDON, Nov 17 (Reuters) - British retail sales volumes fell unexpectedly in October as stretched consumers stayed at home, official data showed on Friday in a new warning sign for the economy. Retail sales volumes dropped 0.3% month-on-month, following a revised 1.1% decline in September that was worse than first estimated, the Office for National Statistics said. Economists polled by Reuters had forecast that sales volumes would rise by 0.3% on the month in October. Overall the figures fitted with the darkening outlook for Britain's economy, with economic growth stagnant and strong price pressures now fading, albeit slowly. The figures also showed a small downward revision in retail sales for the third quarter.

Persons: Phil Noble, Spencer, James Davey, William James Our Organizations: Shoppers, REUTERS, National Statistics, Reuters, Investors, Bank of England, Retailers, Britain, Tesco, Thomson Locations: Altrincham, Britain

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